PUNE, India, June 3, 2016 /PRNewswire/ --
The organic acids market growth is led by domination of China which is the leading country for manufacturing organic acids along with rising F&B sector; R&D investments and technological innovations such as micro-encapsulation that will help the industry hit a CAGR of 6% to 2021.
Complete report on global organic acids market spread across 135 pages, profiling 10 companies and supported with 104 tables and 38 figures is now available at http://www.rnrmarketresearch.com/organic-acids-market-by-type-acetic-acid-citric-acid-formic-acid-lactic-acid-propionic-acid-fumaric-acid-others-source-biomass-molasses-starch-chemical-synthesis-application-industrial-food-feed-st-to-2021-market-report.html .
The organic acids market is projected to reach USD 9.29 billion by 2021, at a CAGR of 6.0% from 2016 to 2021. The market is driven by factors such as wide areas of application across various industries, especially the growing F&B sector and R&D investments & technological innovations such as micro-encapsulation. The high growth potential in the Asian countries and untapped regions of the Latin American and African regions provide new growth opportunities for market players.
On the basis of type, the organic acids market was led by the acetic acid, followed by citric acid, formic acid, lactic acid, and others, in 2015.Acetic acid is used in wide areas of applications such as production of synthetic fibers and polymeric materials. It is largely used in food & beverage processing in the form of vinegar. The acid is largely consumed in China, the U.S., and most Western European countries.
China is the largest country to manufacture the organic acids in the world. The growth is driven by the less stringent regulations on manufacturing and trade in this country. The country also maintains a very large livestock population which requires high nutrition additives in feed. Moreover, in order to continue their lucrative trade ties with the European region, Chinese manufacturers of food and feed ingredients are increasingly using organic acids in their products. China is also estimated to be the leading market for acetic acid with many new facilities being set up for production, as the acid is an integral part in the manufacturing of vinyl, polyesters, and engineering plastics. The increased per-capita income and growth of many small and medium scale industries have been driving the Indian market. Hence, India is projected to grow at the highest CAGR during the forecast period.
The leading players for the organic acids industry are Cargill, Incorporated (U.S.), BASF SE (Germany), the Dow Chemical Company (U.S.), Tate & Lyle Plc (U.K.), E.I. du Pont de Nemours and Company (U.S.), Eastman Chemical Company (U.S.), Archer Daniels Midland Company (U.S.), Myriant Corporation (U.S.), Calanese Corporation (U.S.), and Henan Jindan Lactic Acid Technology Co. Ltd (China). Order a copy of Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Fumaric Acid & Others), Source (Biomass, Molasses, Starch & Chemical synthesis), Application (Industrial, Food & Feed), & by Region - Global Trend & Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=605460 .
To determine the market size of various segments and sub-segments of the PIM market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (35%) and Tier 3 (45%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (35%), Directors Level (25%) and others (40%) from various key organizations operating in the global organic acids market. The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (20%), APAC (45%) and Row (5%).
On related note, another research on Peracetic Acid Market Global Forecast to 2020 says, the global peracetic acid market size is estimated to reach USD 783.3 million by 2020, at a CAGR of 8.33% between 2015 and 2020. Food industry is the largest application of peracetic acid. Rising demand in Asia-Pacific is the major driver for growth of peracetic acid market. This report will help stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. Companies like Solvay AG, Ecolab, Kemira Ojy, Evonik Industries AG, Mitsubishi Gas Chemical Company, PeroxyChem Llc., Airedale Chemical, Enviro Tech Chemical Services Inc. and SEITZ GmbH have been profiled in this 112 pages research report available at http://www.rnrmarketresearch.com/peracetic-acid-market-by-type-disinfectant-sanitizer-sterilant-others-by-application-healthcare-food-water-treatment-pulp-paper-others-by-geography-north-america-europe-asia-paci-market-report.html .
Explore more reports on Materials & Chemicals market at http://www.rnrmarketresearch.com/reports/materials-chemicals .
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